New TVR still under wraps! (Vol. 3)
Discussion
N7GTX said:
I don't think the Welsh Govt would have extended their 5 year loan to 8 years in March, if the situation was 'pending bankruptcy'.
There used to be quite a number of politicians with direct experience and knowledge of business, but very few now.
It shows repeatedly in some of their decisions.
They probably did not even understand the auditor's information - Material uncertainty related to going concern.
Jon39 said:
There used to be quite a number of politicians with direct experience and knowledge of business, but very few now.
It shows repeatedly in some of their decisions.
They probably did not even understand the auditor's information - Material uncertainty related to going concern.
TarquinMX5 said:
Jon39 said:
There used to be quite a number of politicians with direct experience and knowledge of business, but very few now.
It shows repeatedly in some of their decisions.
They probably did not even understand the auditor's information - Material uncertainty related to going concern.
Having said that, the then Minister for the Economy and Transport in Wales, Ken Skates who oversaw this venture, is a Cambridge Graduate who became a journalist......
Edited to add: TVR has given Audacia Capital preference should they fail so they have the first claim with a floating charge over all TVR assets and specifically mentions 'deposits'.
I wonder if any deposit holders have contacted TVR to find out what the situation currently is? Or perhaps they are sworn to secrecy.
Edited by N7GTX on Monday 25th October 11:35
Monkeylegend said:
Byker28i said:
Monkeylegend said:
Lucy doesn't answer questions.
but does make a lot of negative comments about TVR all over PHI don't think there is much positive to say in the current climate and if TVR was a dog it would have been put out of it's misery a couple of years ago.
Despite all that's been promised you still get the feeling that the real losers here are going to be the deposit holders.
Edited by Monkeylegend on Monday 25th October 09:13
8Speed said:
Monkeylegend said:
Byker28i said:
Monkeylegend said:
Lucy doesn't answer questions.
but does make a lot of negative comments about TVR all over PHI don't think there is much positive to say in the current climate and if TVR was a dog it would have been put out of it's misery a couple of years ago.
Despite all that's been promised you still get the feeling that the real losers here are going to be the deposit holders.
Edited by Monkeylegend on Monday 25th October 09:13
unrepentant said:
LucyP said:
Old fashioned, heavy, expensive, slow. It's just an expensive Jaguar XK. The F-Type is miles better and a Porsche is miles better than an F-Type.
I’ve owned an F-Type V8S, F-Type R, XKR, V8 Vantage (plus 3 modern TVR’s) and have driven every modern Porsche from a base 718 to a Taycan Turbo S. They’re all different. I’ll keep my Vantage thanks.
What do you drive?
Because this thread is called "New TVR still under wraps!" It isn't called "This is Your Life, Lucy". It's not about me. It's about TVR. And I'm not going to talk about myself on here, ever, because people will make value judgments and criticise me personally, whatever I say. I have been criticised in the past on here, just for being a woman in a mainly male dominated forum. I am happy to have my comments fairly criticised, but I am no opening up my self or my personal life to criticism.
And there was no rant about the accounts, merely a reasoned commentary as to why they show that TVR is barely solvent, and why they have no chance of ever raising sufficient funds to bring a car to market.
And when people just say - The Welsh Government knows best, (Circuit of Wales anyone?), or Les knows best (£10 million debt and no car after how many years?), or Fiduciam have priority over all the assets without explaining such assertions, or providing evidence of such priority in the 80 odd page charge documents registered with Companies House, then their assertions are difficult to accept.
And this project is now all about the accounts, because it's all about money, or the lack thereof. Until they get a lot of it, which they seem unable to do, they are paralysed, until the next set out accounts has to be prepared, at which point it will be over. The year end was in June, so the accountants ought to be on with the task at present. How are they going to certify it as a going concern and without that it is over.
And there was no rant about the accounts, merely a reasoned commentary as to why they show that TVR is barely solvent, and why they have no chance of ever raising sufficient funds to bring a car to market.
And when people just say - The Welsh Government knows best, (Circuit of Wales anyone?), or Les knows best (£10 million debt and no car after how many years?), or Fiduciam have priority over all the assets without explaining such assertions, or providing evidence of such priority in the 80 odd page charge documents registered with Companies House, then their assertions are difficult to accept.
And this project is now all about the accounts, because it's all about money, or the lack thereof. Until they get a lot of it, which they seem unable to do, they are paralysed, until the next set out accounts has to be prepared, at which point it will be over. The year end was in June, so the accountants ought to be on with the task at present. How are they going to certify it as a going concern and without that it is over.
LucyP said:
Because this thread is called "New TVR still under wraps!" It isn't called "This is Your Life, Lucy". It's not about me. It's about TVR. And I'm not going to talk about myself on here, ever, because people will make value judgments and criticise me personally, whatever I say. I have been criticised in the past on here, just for being a woman in a mainly male dominated forum. I am happy to have my comments fairly criticised, but I am no opening up my self or my personal life to criticism.
And there was no rant about the accounts, merely a reasoned commentary as to why they show that TVR is barely solvent, and why they have no chance of ever raising sufficient funds to bring a car to market.
And when people just say - The Welsh Government knows best, (Circuit of Wales anyone?), or Les knows best (£10 million debt and no car after how many years?), or Fiduciam have priority over all the assets without explaining such assertions, or providing evidence of such priority in the 80 odd page charge documents registered with Companies House, then their assertions are difficult to accept.
And this project is now all about the accounts, because it's all about money, or the lack thereof. Until they get a lot of it, which they seem unable to do, they are paralysed, until the next set out accounts has to be prepared, at which point it will be over. The year end was in June, so the accountants ought to be on with the task at present. How are they going to certify it as a going concern and without that it is over.
Fair enough. Though you seem to be fairly negative, i like reading your posts. What i actually haven't seen, and i've read all posts, is you being criticised for being a woman ? And there was no rant about the accounts, merely a reasoned commentary as to why they show that TVR is barely solvent, and why they have no chance of ever raising sufficient funds to bring a car to market.
And when people just say - The Welsh Government knows best, (Circuit of Wales anyone?), or Les knows best (£10 million debt and no car after how many years?), or Fiduciam have priority over all the assets without explaining such assertions, or providing evidence of such priority in the 80 odd page charge documents registered with Companies House, then their assertions are difficult to accept.
And this project is now all about the accounts, because it's all about money, or the lack thereof. Until they get a lot of it, which they seem unable to do, they are paralysed, until the next set out accounts has to be prepared, at which point it will be over. The year end was in June, so the accountants ought to be on with the task at present. How are they going to certify it as a going concern and without that it is over.
LucyP said:
And when people just say - The Welsh Government knows best, (Circuit of Wales anyone?), or Les knows best (£10 million debt and no car after how many years?), or Fiduciam have priority over all the assets without explaining such assertions, or providing evidence of such priority in the 80 odd page charge documents registered with Companies House, then their assertions are difficult to accept.
You need to calm down and get your facts right.1. No one has ever said the Welsh Govt knows best.
2. No one has ever said Les knows best.
3. No one has ever said Fiduciam has priority over all the assets blah blah blah.
As you seem to be hard of hearing I'll shout it a little bit louder. The Welsh Govt used 2 independent accounting companies, not just any old two, but two of the big four i.e. KPMG and Deloitte to assess the venture.
Fiduciam do NOT have priority over the assets. I never said they did, did I? Show me where I said that? Before going off into a rant and spouting nonsense about the 80 odd page charge documents you really need to stop pretending you know better than anyone else. If you actually bothered to read the 17 page Euronext Rating document I linked to several weeks ago you would not look ridiculous with your baseless assertions.
"The Collateral Obligor (TVR Finance) has undertaken to grant a first ranking floating charge to the Issuer (Audacia Capital) over its entire assets and undertaking. The charge will be first ranking upon its grant, subject to registration with the Registrar of Companies in England and Wales."
"The TVR Group guarantees Audacia that the guaranteed liabilities of TVR Finance will be repaid on time and in full due."
https://www.eurorating.com/files/25465077/file/202...
If you want to deal in facts, then make sure you get them right first.
I see you have very strong opinions on things, Interesting that you think car x is a better drivers car than car y. Which model of car x did you own? Er, I haven’t actually owned one. Oh, ok, so which model of car x did you drive? Um, I haven’t actually driven one either. Oh, I see. So, er, car y, which model did you own? Ok, I fess up, I haven’t owned or driven one of those either. So, er, how do you form these strong opinions that you have and like to inform others of? So, I read a lot, and listen a lot to people who also haven’t owned or driven any of the cars in question..
Edited by baconsarney on Monday 25th October 19:12
Edited by baconsarney on Monday 25th October 19:13
baconsarney said:
I see you have very strong opinions on things, Interesting that you think car x is a better drivers car than car y. Which model of car x did you own? Er, I haven’t actually owned one. Oh, ok, so which model of car x did you drive? Um, I haven’t actually driven one either. Oh, I see. So, er, car y, which model did you own? Ok, I fess up, I haven’t owned or driven one of those either. So, er, how do you form these strong opinions that you have and like to inform others of? So, I read a lot, and listen a lot to people who also haven’t owned or driven any of the cars in question..
Edited by baconsarney on Monday 25th October 19:12
Edited by baconsarney on Monday 25th October 19:13
Like the x-files. The truth is out there
Gazzab said:
bullittmcqueen said:
Fair enough. Though you seem to be fairly negative, i like reading your posts. What i actually haven't seen, and i've read all posts, is you being criticised for being a woman ?
You’ve read all of Lucy’s posts on pistonheads. I’d keep that to yourself. bullittmcqueen said:
Gazzab said:
bullittmcqueen said:
Fair enough. Though you seem to be fairly negative, i like reading your posts. What i actually haven't seen, and i've read all posts, is you being criticised for being a woman ?
You’ve read all of Lucy’s posts on pistonheads. I’d keep that to yourself. She is about the only intelligent, insightful and knowledgable person posting on this thread (bar the vegetable men).
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